Should you Consider Umbrella Insurance?
Would you be covered if you were found negligent or liable for someone else's injuries or death? Umbrella insurance is a stand-alone liability policy that provides an additional limit of liability over and above your underlying liability limits on your Troy homeowners and auto insurance policies.
Even when we plan for the best, life can be unpredictable. This is where an umbrella policy can be beneficial, providing you with an extra layer of liability coverage to protect your assets.
Benefits of Umbrella Coverage
A Michigan umbrella policy offers additional protection beyond its corresponding policy limits.
For example, if you are in a car accident, your auto insurance will cover you up to your policy limits, and umbrella insurance can provide additional coverage on top of that.
After an incident, you'll need to file a claim. Your carrier will arrange for an attorney to represent you during litigation and reimburse you according to the policy terms.
Cost of Umbrella Insurance in Troy MI
Who Needs Umbrella Insurance?
Is this type of insurance something you need to consider as part of your insurance plan?
In short, yes, nearly everyone needs umbrella protection. It’s a misconception that umbrella insurance is only for people with significant wealth. These policies can provide additional security in various situations. Ask yourself these questions:
Do you:
• Own a home in Troy?
• Have savings, retirement accounts, or other assets?
• Have children at home?
• Have students at college?
• Own and drive a vehicle?
• Let others borrow your vehicle?
• Borrow someone else's vehicle?
• Own specialty vehicles, such as a motorcycle, recreational vehicle, boat, jet ski, ATV, or golf cart?
• Do you allow others to ride in, on, or operate your specialty vehicles?
• Own pets or other animals?
• Host parties and guests at your home?
• Volunteer your time and services to a charitable organization?
• Use or rent shared access to a lake, dock, or land?
How Much Does Umbrella Insurance Cost?
In a world where expenses skyrocket, it only makes sense to purchase umbrella insurance. Umbrella insurance is generally affordable, so it makes sense in most cases.
Most insurance carriers offer coverage starting at around $150 per year. Of course, your policy costs more if you have more cars and homes. However, for the most part, it's pennies on the dollar, and all the risk is on the insurance company. So even if your premium was $300/year, the insurance company is on the hook for at least $1 million.
Work With an Independent Insurance Agent
At Mason-McBride, we are proud to have a team of dedicated, passionate, and knowledgeable individuals committed to providing excellent service.
Our team in Troy has been reducing risk with tailored insurance solutions for over a century. We take pride in our commitment to doing right by our employees, clients, and community.
Ready for a Quote From a Local Agent?
We'll compare rates and find you a policy that provides complete protection from unexpected occurrences, whether you require Umbrella Insurance, Auto Insurance, Home Insurance, Flood Insurance, or a combination of covers.
Get a quote started online or give us a call at (248) 822-7170.